In a report published by the Times of India, CBI director Mr A P Singh is said to have testified before the Parliament's Public Accounts Committee (PAC), that the loss could be around Rs 50,000 crore, thus effectively refuting the Government's "Zero-loss" claim.
The CBI chief estimated the loss when he was asked to do so by the PAC chairman and senior BJP leader Dr Murli Manohar Joshi. But the actual figure, which will be brought to light once the agency completes its investigations, could be higher than that what has been estimated.
Interestingly the estimate by Mr Singh, is far below the estimate of Rs 67,000 crore-Rs 1,76,000 crore that has been done by the Comptroller and Auditor General (CAG).
With embarrassment mounting for the Government, it now remains to be seen what Prime Minister Manmohan Singh's reaction will be while he speaks to various editors on today. He is expected to break his silence on the scams that have threatened to malign his clean image.